NiYO Launches Digital Gold In Partnership With SafeGold

NiYO, a new-age digital banking solutions provider
for blue-collar employees has announced the launch of ‘Digital Gold’ on its
NiYO Bharat app in partnership with SafeGold. With this launch, for the first
time ever, users can buy and sell 99.5% pure, 24-carat gold using an innovative
regional language app supported by Hindi Audio, starting from as low as Re 1.
The launch is in line with the brand’s commitment to offer the entire gamut of
digital financial services to the overlooked category of blue-collar workers.

NiYO has tied up with SafeGold, a digital platform
that allows customers to buy, sell and receive vaulted gold. The new feature on
Bharat app will provide better access to high-quality gold at small ticket
sizes for blue-collar workers who are neglected by traditional financial
service providers.

The partnership between NiYO and SafeGold creates
the perfect synergy, capitalizing on the digital infrastructure provided by
SafeGold,and NiYO’s platform and consumer base, to reach out to the segment of
working-class individuals who do not have adequate access to gold. This will
not only encourage financial inclusion but also support the nation’s successful
march towards Digital India.

“Gold has
always been a prized possession in India, and we are very delighted to
have partnered with SafeGold to offer our customers a convenient and secure way
to buy and save in the best quality gold. Our objective for launching gold on
our platform was to inculcate a long-term saving habit amongst our blue-collar
users, and thereby encourage financial inclusions. With the festive season
around the corner, this is an opportune time for us to launch ‘Digital Gold’
for our app users.” said Vinay Bagri, Co-founder and CEO, NiYO.

App users have the liberty to buy any amount of
gold and sell it any time after completion of 24 hours of purchase. The
users have an option to buy or sell gold in terms of rupees or in grams. After
the purchase, the gold will be added to the customer’s ‘Gold’ account. Users
can choose to get the digital gold in their account delivered at their doorstep
in the form of a gold coin/bar.